US Government Invests $2.1 Billion in Quantum Computing Companies

The US government has made a significant investment in the field of quantum computing, announcing a $2.1 billion package for nine companies working on various aspects of quantum technology. The funding is part of the CHIPS and Science Act, which aims to boost the country's semiconductor industry and advance scientific research.

IBM will receive $10 billion to build a new superconducting wafer foundry, while GlobalFoundries will get $3.75 billion for developing multi-qubit fab technology. The other seven companies involved in the project will share around $6.4 billion.

The investment is seen as a major step towards post-quantum security, which is essential to protect against potential threats from quantum computers. However, experts warn that it may not be enough to mitigate the risks associated with these machines.

NIST has already developed three post-quantum standards, and Ethereum's foundation has announced plans to implement them by 2029. Bitcoin, on the other hand, still lacks a clear plan for post-quantum security.

Bitcoin holders are advised to take some precautions in the next year, such as reusing their addresses or moving old coins to newer scripts. However, experts caution against rushing into 'quantum-safe' cryptocurrencies, which may not be secure enough yet.

The US government's investment is seen as a positive step towards advancing quantum technology and post-quantum security, but it remains to be seen whether it will be enough to address the potential risks associated with quantum computers.